Boyd Gaming (NYSE:BYD) Stock Price Passes Above 200 Day Moving Average – What’s Next?

Boyd Gaming Corporation (NYSE:BYD)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $82.63 and traded as high as $86.65. Boyd Gaming shares last traded at $86.0660, with a volume of 496,312 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BYD shares. JPMorgan Chase & Co. raised their price objective on shares of Boyd Gaming from $87.00 to $89.00 and gave the stock a “neutral” rating in a report on Thursday, October 16th. UBS Group set a $110.00 price target on shares of Boyd Gaming in a research note on Wednesday, December 24th. Morgan Stanley lifted their price objective on Boyd Gaming from $84.00 to $85.00 and gave the company an “equal weight” rating in a report on Tuesday, October 28th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Boyd Gaming in a research note on Monday, December 15th. Finally, Citigroup initiated coverage on Boyd Gaming in a research report on Thursday, November 20th. They set a “neutral” rating and a $86.00 target price for the company. Five analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $91.08.

Boyd Gaming Stock Down 0.6%

The company has a market cap of $6.72 billion, a P/E ratio of 3.76, a PEG ratio of 2.31 and a beta of 1.24. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 0.71. The firm has a fifty day moving average price of $81.95 and a 200 day moving average price of $82.63.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Tuesday, April 11th. The company reported $1.35 earnings per share (EPS) for the quarter. Boyd Gaming had a net margin of 46.02% and a return on equity of 34.63%. The business had revenue of $707.32 million for the quarter. Equities research analysts forecast that Boyd Gaming Corporation will post 6.52 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Stockholders of record on Monday, December 15th will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, December 15th. Boyd Gaming’s dividend payout ratio is presently 3.15%.

Insider Buying and Selling at Boyd Gaming

In related news, Director William R. Boyd sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $80.36, for a total value of $1,607,200.00. Following the completion of the sale, the director owned 1,960,447 shares of the company’s stock, valued at $157,541,520.92. This trade represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 27.94% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BYD. First Trust Advisors LP raised its position in shares of Boyd Gaming by 679.7% during the second quarter. First Trust Advisors LP now owns 1,122,869 shares of the company’s stock worth $87,842,000 after acquiring an additional 978,853 shares during the last quarter. Norges Bank acquired a new stake in Boyd Gaming in the second quarter worth about $54,933,000. Clark Capital Management Group Inc. acquired a new stake in Boyd Gaming in the third quarter worth about $50,295,000. Wedge Capital Management L L P NC bought a new stake in Boyd Gaming during the 3rd quarter worth about $32,304,000. Finally, Invesco Ltd. lifted its position in Boyd Gaming by 109.8% during the 3rd quarter. Invesco Ltd. now owns 654,434 shares of the company’s stock valued at $56,576,000 after purchasing an additional 342,575 shares during the period. 76.81% of the stock is currently owned by institutional investors.

Boyd Gaming Company Profile

Boyd Gaming Corporation (NYSE: BYD) is a diversified hospitality and gaming company headquartered in Las Vegas, Nevada. The company develops, owns and operates a portfolio of branded gaming and entertainment properties, including casinos, hotels, restaurants and meeting facilities. Boyd Gaming’s offerings range from slot machines and table games to live entertainment, dining concepts and convention space, designed to appeal to both regional and destination visitors.

Founded in 1975 by its namesake, William S.